Uni digital currency
There are many views on the reasons why bitcoin fell below $10000 this time, some people in the instry said: "maybe it's a good play prepared by the main force to commemorate the 94 event in advance." more people think that the withdrawal of OTC funds by mining of defi (decentralized Finance) may be one of the main reasons for the current round of decline. However, there are also views that the main reason for the decline of bitcoin is e to the market smashing by the makers
according to the website of coinmarketcap, in the early morning of September 3, bitcoin dropped more than 10% in the short term. At one time, bitcoin fell below the US $10000 level, and the lowest fell to US $9960, which was a new low since July 27, with a 24-hour decline of 9.98%. At present, bitcoin has rebounded to US $10302. At the same time, cryptocurrency declined collectively, and most of the top ten popular currencies in market value, except stable currency, fell by more than 10%
However, e to the special date of bitcoin's decline and the foreshadowing of the decline in the previous two days, some people in the instry said: "maybe it's a good play prepared by the main force to commemorate the 94 event in advance.". It is reported that the coin circle 94 incident originated from September 4, 2017, when seven ministries and commissions jointly issued the announcement on preventing the financing risk of token issuance, officially calling for the suspension of ICO (initial token issuance) financing, which was regarded as an important watershed in the history of China's digital currency speculationhowever, it is not the tradition of the coin circle to fall every festival. On the decline of bitcoin this time, more people think that the withdrawal of OTC funds by the mining of defi (decentralized Finance) may be one of the main reasons for this round of decline
however, there are also views that the main reason for the decline of bitcoin is e to the market smashing by the makers
KOL, an analyst known as the trend maniac of digital currency, pointed out that there have been a large number of smashing orders in the exchange recently. When the currency price is around us $11770-11800, the exchange's large investors mp goods at US $11750 in 500btc, and all the orders are instantly eaten by the brick moving robot, about 4000 coins are smashed
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mining of DEI (decentralized Finance) and withdrawal of over-the-counter funds are the reasons for the current round of decline.
Wu Gang, founder of bitcoin wallet letter, publicly said on the social platform that the market decline is the "blood sucking" of the defi (decentralized Finance) project, and gave an example of sushi project, which has soared 100 times recently
Kang Lu, a senior researcher of fire coin Research Institute, said to the analysis of interface news that the recent hot spot of digital currency is not in the bitcoin market, but the prosperity of the overall digital currency market caused by the graal prosperity of the decentralized financial market in Ethereum ecology and wave field ecology
it can be seen from the fact that the trading volume of decentralized exchanges has reached 6% of that of mainstream exchanges. In addition, at the beginning of September, the 24-hour trading volume of uniswap, a decentralized exchange, reached US $441 million, surpassing the head centralized exchange coinbase Pro for the first time
If bitcoin represents blockchain version 1.0, it proves to the world that digital currency can be realized. Then Ethereum represents blockchain version 2.0, which lets you know more about the play of blockchain, decentralized applications and smart contracts. In 2018, blockchain will enter the stage of 3.0, application and scenario landing will be the core of blockchain, and blockchain based applications in various instries will spring up, which will be the early dividend period of the last stage of blockchain development. The demand for talents driven by the application of blockchain technology has become increasingly large. Blockchain technical talents have become the new professional talents, which are highly competitive, and also have enviable high salaries
whether to form a meaningful large-scale consensus: one of the outstanding advantages of blockchain is that it can effectively form a large-scale consensus by opening account books and notifying the whole network. At present, there is no need to form a network wide consensus for many projects. Some projects are just for crowdfunding and token issuance. The blockchain consensus of projects is meaningless. Does this model have network effect: network effect means that a project will become more and more valuable with more and more users of the project, because the value of the project is not in the users themselves, but in the connection network between users. Bitcoin is a typical example. The more user nodes there are, the more links between nodes will grow exponentially, and the whole ecosystem of bitcoin will be more valuable
of course, in addition to these points, there are many basic principles to judge the project, such as effective incentive mechanism, strong team, project solving pain points, and so on
Blockchain apps include: Netease star base, digital chain app, chain to finance, time forest blockchain trading platform, blockchain e-wallet, ostrich blockchain, GXS wallet, coin bag wallet and ordered wallet
fifthly, Youling wallet
Youling app creates a personal centered value exchange network and ecology, and creates a decentralized national interactive entertainment and blockchain new economic platform
Youling app adopts the decentralized open mode, allowing indivials (third-party developers) to develop all kinds of applications based on Youling open platform, and each user can freely choose the application to build his own home page, including but not limited to: souvenirs, live broadcast, sharing, community, service sale, commodity sale
BAL is the platform token of balancer, which is a decentralized transaction protocol of reserve pool based on Ethereum. It is similar to uniswap in function. The difference is that a single pool of uniswap can only inject two types of assets, and the value ratio is fixed at 1:1. A single pool of balancer can support up to eight types of assets, and it can customize the weight and handling charge of assets in the pool
if users want to exchange a for B in this pool, they just need to substitute the formula to calculate the exchange ratio. This allows users to choose the best interest rate combination pool for arbitrage
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balancer overturns the concept of Index Fund: instead of paying the portfolio manager to rebalance your portfolio, you collect fees from traders, who rebalance your portfolio by following arbitrage opportunities. A certain proportion of the investment amount is charged for each transaction. The fee is customizable for each pool and is fully handed over to the pool liquidity provider
features:
1. Simulation trading
preview the expected trading prices of the two assets under the condition of existing liquidity and sliding point
2. Intelligent order routing
transactions are split by SOR, which performs optimization in all pools to achieve the best price execution
3. Unstoppable interface
the front end is open source and will be provided through IPFs. No white list or approval is required to trade any token
utility token is a utility token that acts as a right to use a specific service
examples of terminology usage
utility tokens are premised on the use of services
detailed description
you can settle the price of goods and meals instead of cash, and you can access it by having cloud storage. For utility tokens, there is no need to audit the classification of the report
public chain is a highly "public" blockchain, anyone can freely participate in the network
example of terminology usage
as an infrastructure project for mediating data exchange between blockchains, a mechanism for data exchange on public blockchains will be established
detailed description
in the blockchain used to record the transaction information of encrypted assets (virtual currency), this is a mechanism used by an unspecified number of participants to establish transaction information by consensus without a specific management entity. It is very safe to prevent forgery of transaction information, but it requires a lot of calculation, so its disadvantage is that it takes a long time to complete the transaction when there are many participants
7. Scalabilityscalability refers to the scalability of delayed transaction processing
examples of terminology usage
soaring gasoline prices highlight Ethereum's scalability issues
detailed description
e to the nature of blockchain and the limited amount of transaction data that can be written in a block, the processing is delayed. Remittances can take a long time, which can lead to higher transaction costs. Bitcoin is the first cryptocurrency born, which has been considered as a special problem, but efforts to solve this problem have been implemented, such as using other technologies such as lightning network and developing new blockchain
8. Gas costgas cost is the (Network) transaction cost on Ethereum blockchain
examples of terminology usage
this week, on the Ethereum blockchain, although there are a small amount of remittances, there are still many cases of high natural gas bills being paid
detailed description
the gas fee of user specified amount is the secondary reward. Eth, the virtual currency, is used for payment. Since the transaction with higher cost should be dealt with first, the gas cost may increase with the increase of transaction number
9. Liquidity mining (liquidity mining)considering the provision of liquidity (currency pair), liquidity mining is to grant governance token in addition to interest, so as to attract those who implement the rate of return balance
examples of terminology usage
detailed description
in liquidity mining, by storing specific assets in the liquidity pool and providing liquidity that traders can buy and sell, the swap fee at that time can be obtained as income. These liquidity mining originated from the largest decentralized exchange "uniswap", and many liquidity mining contracts were born, such as curve finance and balancer
10. Defi (distributed Finance)defi (decentralized Finance) refers to the financial services or systems that use blockchain and provide without a central administrator
examples of terminology usage
since June 2020, the market of defi has developed rapidly
specify the abbreviation of "decentralized finance". The financial services offered by defi include the issuance of stable coins, lending currency and cryptocurrency exchanges. Many platforms use Ethereum blockchain
11. POS (proof of equity)POS is a consensus algorithm, which allows you to approve and generate new block rights according to the percentage (equity) of your own virtual currency
According to vitalik buterin, co-founder of Ethereum, migrating eth's consensus algorithm from POW to POS will improve security and scalabilityspecify the abbreviation of
proof of interest. We can also consider the holding period of virtual currency. It was born as an alternative to the "proof of work (POW)" consensus algorithm, which requires high-performance computers to approve transactions and consumes a lot of energy. If approved, you can receive a new virtual currency as a reward
12. DappsDAPP is an application developed with open source blockchain
examples of terminology usage
Galaxy store, the largest Samsung Electronics app store in South Korea, has started to use Tron's blockchain to process dapps
detailed description
the abbreviation of "distributed application" is called "distributed application" in Japanese. One of the main features is that there is no centralized administrator. The most popular is Ethereum blockchain, which is developing applications such as games and decentralized exchange (DEX)